Jt1 Member Username: Jt1
Post Number: 7636 Registered: 10-2003 Posted From: 198.208.159.19
| Posted on Tuesday, August 01, 2006 - 5:35 pm: | |
In model d's most recent article there is some info about the new strip mall in HP.
quote:The Highland Point Plaza, located at 12005 Woodward Ave., will have space for seven or eight tenants, including one or two larger retailers at 5,000 square feet. Rent in the retail units is expected to be around $23 per square foot. The general contractor for the shopping center is Jonna Management.
What is the term for the $23/square foot. I assume that is not monthly. Also is that an outrageous rate or is it in line with what is expected. I thought that I have seen rates much lower but I may be mistaken. |
Mudflap Member Username: Mudflap
Post Number: 165 Registered: 08-2005 Posted From: 75.10.4.241
| Posted on Tuesday, August 01, 2006 - 6:36 pm: | |
$23 per square foot is annual, multiply that times the sq. ft. and divide by 12 for monthly rent. It is also probably triple-net, which means taxes, insurance, and utilities are extra. They might even hit you up for common area maintainence, but I doubt it at $23/sf...This is a steep price, but isn't outrageous for a new class A facility. |
The_fly Member Username: The_fly
Post Number: 77 Registered: 10-2003 Posted From: 69.214.191.127
| Posted on Tuesday, August 01, 2006 - 7:03 pm: | |
$23 psf is a great price for a new class A building. |
Bvos Member Username: Bvos
Post Number: 1770 Registered: 10-2003 Posted From: 70.141.182.153
| Posted on Tuesday, August 01, 2006 - 9:33 pm: | |
That's a bit steep when compared to the average rents on retail space in the city, but a justifiable price considering it's new. They'd have big problems if they charged extra for common area maintenance. |
Jt1 Member Username: Jt1
Post Number: 7639 Registered: 10-2003 Posted From: 216.203.223.109
| Posted on Tuesday, August 01, 2006 - 9:43 pm: | |
Does strip mall space have different classes. Not a tower - just the strip mall in HP. |
Chub Member Username: Chub
Post Number: 351 Registered: 11-2003 Posted From: 68.60.139.30
| Posted on Tuesday, August 01, 2006 - 11:00 pm: | |
Jt1, are you thinking of opening a beauty supply or dollar store there? Maybe an advance check cashing place would be good; HP needs more of this kind of retail. No seriously, what do you have in mind? |
Jt1 Member Username: Jt1
Post Number: 7640 Registered: 10-2003 Posted From: 4.229.99.161
| Posted on Tuesday, August 01, 2006 - 11:19 pm: | |
Just wondering if the rates are competitive since I always wonder if new developers price places out of the market because they think they can get rates that are out of whack with reality. |
Alexei289 Member Username: Alexei289
Post Number: 1201 Registered: 11-2004 Posted From: 68.61.183.223
| Posted on Tuesday, August 01, 2006 - 11:40 pm: | |
... try buying one of those office condos... many of these developers get upwards of 500+ for those... mostly dental offices n such... |
Superduperman Member Username: Superduperman
Post Number: 109 Registered: 01-2005 Posted From: 69.242.221.36
| Posted on Tuesday, August 01, 2006 - 11:54 pm: | |
I heard that Southern Fires restaurant is opening another location there. |
Chub Member Username: Chub
Post Number: 352 Registered: 11-2003 Posted From: 68.60.139.30
| Posted on Wednesday, August 02, 2006 - 1:15 am: | |
How about a good bike shop that has regular business hours, or how about a good musical instrument store that also gives lessons? Just a few things I wish for this area and on Woodward in particular. |